(Updated 11/15/2014) The OECD will invite some developing nations to participate in OECD Committee on Fiscal Affairs (CFA) meetings, will hold regional consultations, and will work on capacity development in an effort to increase developing nation input in the OECD/G-20 base erosion profit shifting (BEPS) plan decision-making process, the OECD announced on November 12.
The OECD strategy was formulated in response to a request made by G20 finance ministers at their September 20-21 meeting in Carins, Australia. The ministers asked the OECD to develop a process to deepen developing country engagement in tackling BEPS issues and to ensure that their concerns are addressed.
A key element of the plan is to invite about 10 developing nations to participate in CFA meetings and CFA working group meetings. Countries that will be invited include Albania, Jamaica, Kenya, Peru, Philippines, Senegal, and Tunisia. Members of the African Tax Administration Forum and the Inter-American Centre for Tax Administration have also been invited to attend CFA meetings.
The OECD will also establish, in cooperation with regional tax organizations, regional/linguistic networks in the following five areas: Asia, Africa, Central Europe and the Middle East, Latin America and the Caribbean, and Francophone countries.
These networks will provide the opportunity for structured dialogue with developing countries on BEPS issues and will also assist in the development of toolkits needed to support the practical implementation of the BEPS measures and other priority issues for developing countries, the OECD said.
See,
- Strategy for Deepening Developing Country Engagement in the Base Erosion and Profit Shifting Project
UPDATE: Philippines Joining OECD Committee on Fiscal Affairs: The Philippines will join the OECD Committee on Fiscal Affairs to work on a global response BEPS beginning January 2015, the Philippines Department of Finance announced on November 14. The Philippines will use its position to present developing country perspectives and shape strategies, tools, and other outputs to curb BEPS. See, Philippines release.
